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70 Glen Cove Road, East Hills
70 Glen Acquisition LLC, an affiliate of the Queens-based commercial real estate investor, purchased a three-story, 25,000-square-foot office building on 0.68 acres at 70 Glen Cove Road East Hills for $7.1 million . Built in 1966, the building is 96% occupied by mostly medical tenants. The sale price represents a cap rate of 7.25%. Ian Lee of Berkshire Hathaway HomeServices Laffey International Realty represented the buyer in the transaction, and John Chiaramonte and Charles Chiaramonte of Select Investment Properties represented the seller (Great Represented Gould 70 Glen Cove Road LLC, an affiliate of Neck-based Gould Investors LP.
53-59 West Main St., Oyster Bay
Kelly Albers purchased a two-story, 5,000-square-foot building on 0.09 acres at 53-59 West Main Street in Oyster Bay for $1.9 million. The fully occupied property on the southeast corner of West Main Street and Spring Street has four ground floor retail stores and three ground floor apartments. Jennifer Keschner of Signature Premier Properties represented the buyer in the sale transaction, and Giuseppe Gregorio, Luca DiCiero and Nick Evangelista of NY Space Finders represented the seller, HB Binder Equities LLC.
110 Denton Avenue, New Hyde Park
CMP Corona Realty LLC, an affiliate of the tile supply company, purchased a 12,500-square-foot industrial building on 0.36 acres at 110 Denton Avenue in New Hyde Park for $3.6 million. The facility was previously owned and occupied by Sound Refrigeration & Air Conditioning, which consolidated its operations into another nearby facility. Built in 1963, the building has approximately 2,000 square feet of office space on the ground floor and an additional 2,000 square feet of office space on the mezzanine level. The ceiling height is 16.5 feet and there is also a drive-in bay. The buyer plans to occupy the New Hyde Park building for a tile supply business, according to a deal broker. Sam Kapoor and Michael Steinberg of Empire Business Management represented the buyer, and Dan Abbondondalo, Joegy Raju and John Giannuzzi of Cushman & Wakefield represented the seller, 110 Denton Realty LLC, in the sales transaction. .
888 Veterans Memorial Highway, Hauppauge
Dime Savings Bank has extended its lease for 2,473 square feet of office space at 888 Veterans Memorial Highway in Hauppauge. Dime occupies more than 80,000 square feet of the building, which includes a bank branch. Alliance One, a commercial factoring company, renewed its lease for 2,163 square feet of office space on the same property. Although the tenant was self-represented, the landlord, Cranford, New Jersey-based Signature Acquisitions, was also self-represented in the lease renewal.
40 Melville Park Road, Melville
Northwell Health leased 19,162 square feet of office space at 40 Melville Park Road in Melville. The health system plans to use the space for a new pharmacy fulfillment center and associated administrative offices, according to a statement from landlord Simone Development Companies. Darren Leiderman of Colliers represented Northwell Health and the landlord, Simone Development Companies, self-represented in the lease transaction.
